The transaction values the San Francisco-based company at $800 million on a pre-money basis, with $165 million in committed capital earmarked to accelerate production of the Chaparral. This vertical takeoff and landing drone is designed to transport heavy payloads, a niche the company aims to dominate as it scales operations. Once the merger concludes in the fourth quarter, the combined entity is projected to hold an enterprise value of approximately $1 billion. Shares are slated to trade on the Nasdaq exchange under the ticker symbol ELRY.